It recently announced a loan of 90 million euros (Sh10.3 billion) to help fund KMRC, a public-private company that will provide long- term funding to banks and saccos to enable the institutions to expand their mortgage loans.

Creation of KMRC is part of the government’s ambition to deliver 500,000 houses in major towns across the country over the next four years.

Besides the capital provided by its shareholders, KMRC will also issue bonds to expand the pool of funds available.

The Menengai power project has signed a 25-year take-or-pay power purchase agreement with the national power utility, Kenya Power.

It also signed a project implementation and steam supply agreement with the state-owned Geothermal Development Company.

The plant will increase installed capacity while addressing growing demand for reliable and affordable electricity.